A password is a word or string of characters used for user authentication to prove identity or access authentication to gain access to a resource (e.g., a computer device). A password, although very vulnerable to hacking, is still the most common method for authentication. Recent studies have confirmed that the worst passwords are in fact the most commonly used. For example, the passwords “12345,” “password,” “qwerty,” and “letmein” are some of the widely used passwords around the world.
Other authentication methods, such as fingerprint or facial recognition, have also been employed, but have proven to be less than 100% secure. Multi-factor authentication, as well as smart cards and other hardware-based authentication devices, have also been developed, but these solutions typically require proprietary software that makes them difficult and expensive to implement.
A password vault application assists in generating and retrieving complex passwords, potentially storing such passwords in an encrypted database, or calculating them on demand. Types of password vault applications may include, for example, locally installed software applications, online services accessed through website portals, or locally accessed hardware devices that serve as keys. Depending on the type of password manager used and on the functionality offered by its developers, the encrypted database is either stored locally on a user's device (e.g., mobile device or computer device) or stored remotely through an online file-hosting service. Password vault applications typically require a user to generate and remember one “master” password to unlock and access any information stored in their databases. Although use of password vault applications has generally decreased the hacking vulnerability of passwords, they cannot be used across all operating systems and hardware platforms.